DETROIT - January 8, 2007: Mitsubishi Motors North America today
announced the world debut of the all-new, 2008 Lancer compact sedan, and
Prototype X, a vision of the next-generation, rally-bred Lancer Evolution
sedan. The new Lancer sedan goes on sale in March of 2007 while the high
performance, next generation Lancer Evolution will be available in the
first quarter of 2008.

New Global Platform in the Spotlight

The new Lancer, Prototype X and the upcoming Lancer Evolution sedan all
rely on the same performance-engineered global platform that debuted
beneath the 2007 Mitsubishi Outlander SUV. The inherent robustness and
versatility of this architecture allow Mitsubishi to utilize it for a
diverse array of products, each one retaining a unique performance
character.

The 2008 Lancer will deliver driven-to-thrill dynamics, "class-up"
value, advanced safety and available cutting-edge user-technology in an
aggressively styled compact sedan. Lancer's comprehensive safety package
provides seven standard air bags, including the first driver's knee air bag
available in a Mitsubishi model.

All Lancer models come with a standard crisp-shifting 5-speed manual
transmission. The front-wheel-drive Lancer is the first Mitsubishi in
North America to offer an optional continuously variable transmission (CVT)
in place of a conventional automatic transmission. When equipped with the
CVT, the Lancer GTS exclusively features a 6-step Sportronic(R) mode that
allows the driver to manually control transmission operation using
magnesium steering wheel paddle shifters -- a first in the segment.

Inspired Exterior and Interior Design

The Lancer's eye-catching exterior design conveys its unmistakable brand
identity. A shark-nosed front end inspired by jet fighter air intakes, a
distinct wedge-like profile and crisp, taut lines highlight the exciting
new design, announcing the sporty intentions of this very capable compact
sedan.

As with the exterior, the Lancer's interior is characterized by clean
and crisp surfaces, free of gimmicks and using high-quality materials with
careful attention to detail. The 2008 Lancer is available in three levels
of trim and driving dynamics: DE, ES and the sport-tuned GTS. Each trim
line is distinguished by its own distinct seating materials and interior
trim. The overall instrument panel shape and design contribute to a more
spacious interior feeling than seen in some competitors. The roomy feeling
is no illusion, as the new Lancer provides 94.8 cu. ft. of passenger space
(93.3 with the optional sunroof).

Premium In-Car Technology

All Lancer models for 2008 come pre-wired for accessory SIRIUS(R)
Satellite Radio. This in-demand feature is also included in the optional
Sun and Sound Package that is available for the ES and GTS models, where it
is combined with a power glass sunroof, SIRIUS(R) Satellite Radio with
6-month pre-paid subscription and a 650-watt (max.), Rockford-Fosgate(R)
Premium Audio system -- the most powerful factory-installed audio system in
the segment.

Other electronic options on GTS include a Navigation and Technology
Package, which combines a 30-gigabyte hard disc drive (HDD) navigation
system with digital music server function, the Mitsubishi
Multi-Communication System and the FAST Key (Freehand Advanced Security
Transmitter) entry system. FAST Key allows the driver to unlock the
vehicle simply by having the remote in a pocket or purse and grasping the
handle on either of the front doors or the trunk.

Prototype X

Although clearly based on the new Lancer and sharing its distinctive
shark-nose grille opening, Prototype X features a unique front end, rear
fenders, decklid and an aluminum roof. Making a maximum-performance
statement, Prototype X looks the part of the street-wise sports machine
with its boxed fenders, aggressively sloping hood with integral air scoop,
20-inch alloy wheels with massive brakes and the high-tech LED turn signals
in the sideview mirrors.

Under its muscular skin, Prototype X showcases an all-new 2.0-liter
turbocharged engine and a new electronic all-wheel-drive system called
Super-All Wheel Control (S-AWC). Prototype X also previews a new automated
manual transmission with paddle shifters. This sequential gearbox promises
to offer fast driver controlled shifts, and the convenience of a fully
automatic mode with no performance compromise.

Inside Prototype X, deeply contoured bucket seats are upholstered in
high-grip Alcantara. An electronic lap counter hints at the car's weekend
club racer capability, while the red LED light band that spans the doors
and the dash surface might suggest a customizing idea to future customers.
The user technology in Prototype X previews what will be available for the
next Lancer Evolution. While not all design features and content seen on
Prototype X will make it to the production vehicle, the design seen in
sheet metal will carry through.

Next-Gen Evolution Power and Handling

The engine powering Prototype X is a turbocharged version of the new
aluminum 4B11 2.0-liter DOHC MIVEC engine used in the 2008 Lancer. It will
yield the highest power rating ever in an Evolution model.

Prototype X is equipped with the automated manual transmission with
magnesium steering wheel paddle shifters that will be available on the next
Lancer Evolution. This new transmission will offer lightning fast,
paddle-shift actuated shifting when desired, along with offering a fully
automatic mode. For stick shift purists, the next Lancer Evolution will
still offer a conventional 5-speed manual transmission. With the 4B11
turbo engine's stronger torque performance, a 5-speed will provide optimal
acceleration response.

Super All Wheel Control (S-AWC)

The next Lancer Evolution, while still providing the levels of engine
performance that appeal to this model's loyal core customers, will expand
dynamic capability with the new Super All Wheel Control (S-AWC) system. In
Prototype X, this next-generation system combines an Active Center
Differential (ACD) with an Active Yaw Control (AYC) rear differential and
Active Skid Control (ASC). With exciting performance assured, Mitsubishi
will be able to equip the upcoming Lancer Evolution to be a markedly better
car for everyday driving.

Mitsubishi Motors North America, Inc., (MMNA) is responsible for all
manufacturing, finance, sales, marketing and research and development
operations of the Mitsubishi Motors Corporation in the United States.
Mitsubishi Motors sells coupes, convertibles, sedans, a mid-size pickup
truck and sport utility vehicles through a network of approximately 520
dealers.